July 12, 2024 07:32 GMT
Lower Alongside Peers
GILTS
Gilts follow core global peers away from yesterday’s highs at the open, with a soft 30-Year U.S. Tsy auction noted late Thursday.
- Futures -41 at 98.10. Initial support & resistance at yesterday’s extremes (97.63/98.53).
- Cash gilt yields are 3-4bp higher across the curve.
- SONIA futures see a little more pressure after gilts open, last flat to 4.5 lower.
- U.S. inflation data will likely dominate into the weekend, with PPI and UoM readings due. The former will allow analysts to fine tune their PCE projections following yesterday’s soft CPI.
- Further out, Wednesday’s UK CPI release provides the next point of note on the domestic data calendar.
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